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Trading Options Greeks: How Time, Volatility, and Other Pricing Factors Drive Profits (Bloomberg Financial)


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Product Details

  • Unknown Binding
  • ISBN-10: 1118263227
  • ISBN-13: 978-1118263228
  • Average Customer Review: 4.6 out of 5 stars  See all reviews (10 customer reviews)

More About the Author

Dan Passarelli, is the author of the book Trading Option Greeks and founder of Market Taker Mentoring LLC. Market Taker Mentoring is an options education company that provides personalized one-on-one mentoring for option traders. The company website is www.MarketTaker.com.

Dan started his option trading career on the floor of the Chicago Board Options Exchange (CBOE) as an equity options market maker. He also traded agricultural options and futures on the floor of the Chicago Board of Trade (CBOT). In 2005, Dan joined CBOE's Options Institute and began teaching both basic and advanced option trading concepts to retail traders, brokers, institutional traders, financial planners and advisors, money managers, employees of the Federal Reserve Bank, and market makers. In addition to his work with CBOE, Dan taught option trading strategies at the Options Industry Council (OIC). Dan has written numerous articles in the financial press. Dan can be followed on Twitter at www.twitter.com/Dan_Passarelli.

Customer Reviews

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Most Helpful Customer Reviews

16 of 16 people found the following review helpful By Laura White on September 3, 2013
Format: Hardcover Verified Purchase
Learning to trade options has definitely been a challenge. When I first started, I would get panicky because I could not tell why I was losing money. Dan Passarelli's book on the option greeks helped take the mystery out of it for me as well as helped me learn how to better manage my trades. My first trading coach would have us measure our risk based only on absolute risk, ie if the value of our trade went to zero. But think about it: how many trades have you lost money on because the value of your call, put, or spread went to zero? Probably very few. Nearly all of my losses have been because of day-to-day, incremental risk, and this is what the greeks help us measure. Learning about the greeks is helping me improve my results immensely, and this book has been a huge part of that. Here is a snap shot of some of the things I've learned that have helped me use the greeks to better manage my trades:

- Why I make or lose money because of delta and how to use delta to determine when to take profits or cut bait
- How to calculate a new delta based on gamma
- How to use vega to predict if my trade will make or lose money based on a rise or fall in volatility
- Why sometimes it's important to impose a time stop due to theta eroding the value of a long position
- The importance of measuring your entire position in regards to each of the greeks (because the greeks are cumulative)

As a former market maker, Passarelli used the greeks every day in his trading, and while he takes the time to explain concepts as advanced as gamma scalping, he also breaks things down in simple terms with real-life examples, especially at the beginning.
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4 of 5 people found the following review helpful By Steve Diebold on September 29, 2013
Format: Hardcover
Excellent book for the Intermediate level options trader who's familiar with delta / theta and basic option positions, but is looking to advance his/her trading with a better understanding of how gamma and volatility affect profits & losses. You'll want to read this book more than once.
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3 of 4 people found the following review helpful By Falco del Fiume on August 22, 2013
Format: Hardcover Verified Purchase
The author explains succinctly the factors having influence on the mkt. price of options. Option investors/traders with some knowledge of options can improve their return by reading this book. For those just starting out I would recommend Guy Cohen's Options made Easy. He covers each of the greeks in sufficient detail to understand the factors as well as their how and why. This is not a cook-book whose reading passes on techniques.
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Format: Hardcover Verified Purchase
Excellent book. Goes really deep into option price behaviour and analyses different strategies with simple language. If true that it starts from scratch, the chapters with the basic stuff are very short and straight to the point while options are derivatives that normally require some time for people to get familiar with. So, if you're really new with options, I'd recommend to you study some other stuff or do some research in the internet before starting with this one, unless you're incredibly smart.
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1 of 2 people found the following review helpful By Vivan Raaj on January 1, 2014
Format: Hardcover
This is my first ever book on option trading. Was recommended to it after listening to the option insider podcast.

Option trading is quite a complex trading but the author summarises them in plain layman words.

I would recommened this book to those who are starting in options trading.
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